A Closer Look at H&LA

Hotel & Leisure Advisors helps hospitality and leisure clients make smart, data-driven decisions. From hotels and resorts to waterparks, casinos, golf courses, and ski resorts, we provide expert appraisals, feasibility studies, operational reviews, economic impact analyses, and litigation support — all tailored to unique projects and markets.

Who We Are

Hotel & Leisure Advisors helps clients navigate the complex world of hospitality and leisure real estate with clarity and confidence. We provide expert guidance through appraisals, feasibility studies, impact analyses, economic studies, and litigation support for hotels, resorts, waterparks, casinos, conference centers, sports complexes, golf courses, ski resorts, amusement parks, and other leisure destinations.

Founded in 2005 by David J. Sangree, MAI, CPA, ISHC, H&LA focuses exclusively on the unique needs of clients in the hospitality and leisure sectors. With more than 25 years of experience in hospitality and real estate appraisal, David envisioned a boutique firm where every client receives personalized attention and the highest level of expertise. Since then, we have grown into a nationwide firm, delivering trusted advice and insights across the United States, Canada, and the Caribbean.

As a boutique consulting firm, our team is made up of seasoned professionals with formal hospitality management training and specialized expertise in real estate analysis. Every client benefits from our hands-on approach, ensuring that each study, appraisal, or analysis is thorough, thoughtful, and tailored to their specific goals. H&LA is a trusted partner for lenders, developers, hotel companies, attorneys, municipalities, and others seeking reliable, actionable advice.

We have evaluated and prepared studies for more than 4,200 properties across all 50 states, Canada, and the Caribbean. By combining deep industry knowledge with data-driven insights, we provide our clients with the tools and guidance they need to confidently move their projects forward.

In 2025, H&LA entered into a strategic partnership with Architectural Design Consultants, Inc (ADCI). This partnership follows ADCI’s acquisition of H&LA, aligning both firms with distinct strengths to deliver a more comprehensive suite of services across the hospitality, leisure, and entertainment sectors. H&LA will continue to operate under its existing brand while leveraging ADCI’s creative and operational resources. We will share strategic resources and explore new ways to deliver enhanced value through integrated project planning, feasibility, and design services to our clients in the hospitality and leisure industries.

Why Clients Choose H&LA

  • Independent, third-party analysis
  • Hospitality-focused specialization
  • Nationwide experience with local market insight
  • Work trusted by lenders, courts, and public agencies
David Sangree - WWA 2022 Hall of Fame Inductee
David Sangree - WWA 2022 Hall of Fame Inductee
A little about Hotel & Leisure Advisors
A little about Hotel & Leisure Advisors

Meet the Team

Hotel & Leisure Advisors is a hospitality consulting firm specializing in appraisals, feasibility studies, impact analyses, economic impact studies, and litigation support for hotels, resorts, waterparks, casinos, conference and convention centers, sports complexes, golf courses, ski resorts, amusement parks, and other leisure real estate.

David J. Sangree, MAI, CPA, ISHC
David J. Sangree, MAI, CPA, ISHC
President
Adam Zarczynski, CHIA
Adam Zarczynski, CHIA
Manager
Stephen Szczygiel, CHIA
Stephen Szczygiel, CHIA
Senior Associate
Anthony DiPonio, CHIA
Anthony DiPonio, CHIA
Senior Associate
Kate Cheung, CHIA
Kate Cheung, CHIA
Associate
Kyle Mossman
Kyle Mossman
Senior Research Analyst
Shaan Karani, CHIA
Shaan Karani, CHIA
Associate
Heidi Banak
Heidi Banak
Operations Manager
Michael Weber
Michael Weber
Data and Technology Manager
Gina Svat
Gina Svat
Research Analyst
Sally Weisbarth
Sally Weisbarth
Office Manager

Hotel & Leisure Advisors

Frequently Asked Questions

  • What types of properties does H&LA work with?

    H&LA works with a wide range of hospitality and leisure assets, including hotels, resorts, waterparks, attractions, conference centers, golf courses, recreation centers, sports facilities, surf parks, aquatic facilities, casinos, amusement parks, and mixed-use developments.

  • Who typically hires H&LA?

    Clients include developers, owners, investors, lenders, municipalities, attorneys, and economic development agencies.

  • When should a client engage H&LA?

    H&LA can provide value at any stage of the project lifecycle—from early concept planning through operations, refinancing, or disposition.

  • How is H&LA different from other hospitality consultants?

    H&LA combines deep hospitality expertise with financial rigor and real-world operational understanding to deliver objective, independent analysis for complex hospitality and leisure projects. The firm maintains the most comprehensive proprietary data set on waterparks in the industry and is recognized as a leader across the hotel, resort, waterpark, surf park, and attractions sectors. This breadth of experience allows H&LA to provide market-tested insights that go beyond traditional hotel consulting and reflect how guests, operators, and investors actually engage with destination-driven assets.

Giving Back

Supporting communities through education, opportunity, and long-term impact

Malawi 1 1024x768 - About Us

David and Laura with students from the University of Livingstonia

David and Laura Sangree were in the Peace Corps in Malawi in southern Africa between 1989 and 1991. Their experience working in this incredibly beautiful but economically disadvantaged country full of warm-hearted people has continued to influence them. In March 2023, David and Laura returned to Malawi after 32 years to see some of the progress made over the years, even as the country still faces many economic challenges as it ranks among one of the poorest countries in the world. David is on the board of the University of Livingstonia Foundation, which works to raise funds for scholarships and infrastructure improvements at the University of Livingstonia in northern Malawi. The university has approximately 3,000 students and is adding a program in hospitality management in at their Mzuzu campus. Due to continued economic hardship, most of their students are in genuine need of scholarship aid to continue their education. Hotel & Leisure Advisors donates a portion of its profits to the University of Livingstonia as well as other charities focusing their work in Malawi. Having been to Malawi to see the impact these donations have had on the students, David and Laura were able to have a first-hand look at the hard work, dedication, and gratitude of the many students who rely on the generosity of others to help them succeed. Malawi truly is a special place and the work that the University of Livingstonia Foundation is doing to aid young people in pursuit of their dreams and goals is a remarkable endeavor to “educate and prepare professionals and leaders that will help the people of Malawi overcome the education, economic, and social challenges it faces today.”

If you are looking for a cause to support that will truly impact the lives of people in a real and lasting way, please consider a donation to the University of Livingstonia Foundation. Students can be sponsored for approximately $2,000 a year, but a donation in any amount will contribute to the wonderful and rewarding work of the Foundation and give students in Malawi the chances they need to achieve success. To learn more about The University of Livingstonia Foundation, or to make a donation, visit https://ulivingstoniafoundation.org/.

Malawi is a beautiful country, often referred to as the “Warm Heart of Africa” due to its friendly people and its grand landscapes, mountains, lakes, and wildlife. If you’re inclined, please consider a trip to Malawi so that you can see its game parks and resorts or visit one of the organizations working to improve the country. https://visitmalawi.mw/

Want to work at H&LA?

We welcome your inquiries and look forward to discussing how you can join the Hotel & Leisure Advisors team.